LADENBURG THALM/SH SH downgraded shares of Agree Realty (NYSE:ADC) from a buy rating to a neutral rating in a report released on Monday morning, MarketBeat Ratings reports.
Other analysts have also issued research reports about the company. Raymond James increased their price target on Agree Realty from $59.00 to $68.00 and gave the company an outperform rating in a report on Monday, December 10th. Citigroup upped their target price on Agree Realty from $57.00 to $61.00 and gave the company a neutral rating in a research report on Tuesday, December 11th. Finally, Jefferies Financial Group raised Agree Realty from a hold rating to a buy rating and raised their price target for the stock from $60.00 to $70.00 in a research report on Thursday, December 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $62.00.
Shares of ADC stock opened at $65.18 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $2.25 billion, a PE ratio of 23.96, a PEG ratio of 4.32 and a beta of 0.22. Agree Realty has a one year low of $44.37 and a one year high of $66.71.
Institutional investors have recently bought and sold shares of the business. IFP Advisors Inc lifted its stake in shares of Agree Realty by 33.8% in the fourth quarter. IFP Advisors Inc now owns 669 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 169 shares in the last quarter. Stifel Financial Corp grew its holdings in Agree Realty by 0.9% during the 4th quarter. Stifel Financial Corp now owns 30,117 shares of the real estate investment trust’s stock worth $1,772,000 after acquiring an additional 259 shares during the period. SG Americas Securities LLC lifted its position in Agree Realty by 2.6% in the 4th quarter. SG Americas Securities LLC now owns 11,445 shares of the real estate investment trust’s stock valued at $677,000 after acquiring an additional 289 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in Agree Realty by 6.5% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 8,467 shares of the real estate investment trust’s stock valued at $501,000 after buying an additional 514 shares during the last quarter. Finally, Lindbrook Capital LLC bought a new stake in shares of Agree Realty during the 4th quarter worth approximately $31,000.
Agree Realty Company Profile
Agree Realty Corporation is a publicly traded real estate investment trust primarily engaged in the acquisition and development of properties net leased to industry-leading retail tenants. As of September 30, 2018, the Company owned and operated a portfolio of 520 properties, located in 45 states and containing approximately 10.0 million square feet of gross leasable space.
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